American Express Membership Rewards is offering a 25% bonus on transfers to Hilton Honors from Sept. 2 to Sept. 23, 2025, lifting the effective rate to 1:2.5. Every 1,000 Amex points converts to 2,500 Hilton points during the promotion, a bump from the standard 1:2 ratio. Members are advised to confirm the bonus appears at checkout, as Amex-to-Hilton transfers generally post instantly and cannot be reversed. The bonus can lower the Amex points needed for top-tier stays such as the Conrad Bora Bora, Hermitage Bay in Antigua, and Calala Island, with additional value possible from Hilton’s fifth-night-free perk on awards. Analysts note Amex runs Hilton transfer bonuses several times a year, typically 25–40%, placing this on the lower end and implying roughly 1.25 cents of value per Amex point for targeted redemptions.